Local supermarkets have denied that they owe suppliers sh. 40 billion.
Speaking through the Retail Trade Association of Kenya (RTAK), the supermarkets claimed that the amount they owe is much lower than what suppliers are currently demanding.
“The Principal Secretary for Trade Chris Kiptoo has agreed to form a task force made up of representatives from the Kenya Association of Manufacturers and others from our association as well as from the Association of Kenyan Suppliers to resolve this issue,” RTAK Chief Executive Wambui Mbarire said.
This follows threats by the suppliers to withdraw their goods from the shelves of a number of local supermarkets.
Over the past two weeks, two major local supermarkets, Nakumatt and Tuskys have shut down branches in Nairobi over unknown reasons. However, Nakumatt has been reported to be entangle in debts.
Troubled Uchumi supermarkets is the other retailer that has been suffering major debt problems with suppliers, with many of its shelves running empty.
